How do I calculate pay rate?

First, determine the total number of hours worked by multiplying the hours per week by the number of weeks in a year (52). Next, divide this number from the annual salary . For example, if an employee has a salary of $50,000 and works 40 hours per week, the hourly rate is $50,000/2,080 (40 x 52) = $24.04.

How do I work out my hourly rate?

Calculate how many hours you work at your job every week. Divide your annual pay by 52. Now you have both hours and wages for 1 week. Divide wages by hours and that is your hourly rate.

How do you calculate normal pay rate?

Divide weekly pay by hours worked . Divide your weekly salary by the number of hours you work per week—or the average hours worked per week. This should give you your hourly pay rate.

How is my pay calculated?

Once you have added up the amount you have been paid for work over the 12-week period and included any bonuses, you then need to divide the figure by the number of hours you worked in the 12-week period . That will give you your hourly rate, which should be above the National Minimum Wage.

How much is $70000 a year per hour?

$70,000 a year is how much an hour? If you make $70,000 a year, your hourly salary would be $33.65 .

What is a pay rate example?

If you make $20 per hour and worked 45 hours total one week, you'd multiply your hourly rate by the hours worked . This would be 20 x 45 = 900. To find your overtime amount, you'd multiply one-half your hourly rate by the number of hours you worked that equaled over 40 in the past week.

How do you calculate weekly pay?

Whether or not your hours per week vary, this calculation will look like this: Hourly wage x weekly hours = weekly wage If you consistently work 25 hours per week and earn $12.50 an hour, this would be your calculation:$12.50 x 25 = $312.50Your weekly wage is an important number for the other calculations, so it's a good ...

How much is $15 an hour annually?

If you make $15 an hour, your yearly salary would be $31,200 .

How do you calculate biweekly pay?

Calculating Bi-Weekly Gross Using Annual Salary 365 days in a year* (*please use 366 for leap years) 14 days in a bi-weekly pay period. Formula: Bi-Weekly Gross = Annual Salary / 365 days X 14 days. Example: if your annual salary is $50,000, your Bi-Weekly Gross = $50,000 / 365 days X 14 days = $1,917.81.

How much is $45000 a year per hour?

$45,000 yearly is how much per hour? If you make $45,000 per year, your hourly salary would be $21.63 .

How much a year is 12.50 an hour?

$12.50 an hour is $25,000 a year in annual income. If you earn an hourly wage of $12.50 an hour and work for an average of 40 hours a week for 50 weeks a year, you'll earn a yearly salary of $25,000. The calculation assumes 50 work weeks with an average of two weeks of holidays in a year.

How much is 20 an hour annually?

$20 an hour is how much a year? If you make $20 an hour, your yearly salary would be $41,600 .

Pay Rate Calculator - OPA (2024)

Depending on the information you provide, the Pay Rate Calculator computes different information:

Enter your annual salary to calculate your bi-weekly gross
Enter your bi-weekly gross to calculate your annual salary
Calculate hourly and premium rates that could apply if you are paid overtime

If you are paid on an hourly or daily basis, the annual salary calculation does not apply to you. Your bi-weekly pay is calculated by multiplying your daily or hourly rate times the number of days or hours you are paid.

How Leap Year Changes your Bi-Weekly Gross

In leap years, the calculation of your bi-weekly gross is based on 366 days instead of regular 365 days. Your annual salary remains the same whether it is a leap year or not. Your bi-weekly gross changes slightly in the first pay period of a leap year and in the first pay period after the end of a leap year, due to the one day difference.

Keep in mind:

The City's payroll system is based on the fiscal year covering the period July 1 through June 30
Fiscal Year 2024 beginning July 1, 2023, is a leap year
The current calculator is set for a leap year

Calculating Bi-Weekly Gross Using Annual Salary

365 days in a year* (*please use 366 for leap years)
14 days in a bi-weekly pay period
Formula: Bi-Weekly Gross = Annual Salary / 365 days X 14 days
Example: if your annual salary is $50,000, your Bi-Weekly Gross = $50,000 / 365 days X 14 days = $1,917.81

Calculating Annual Salary Using Bi-Weekly Gross

14 days in a bi-weekly pay period
365 days in the year* (*please use 366 for leap years)
Formula: Annual Salary = Bi-Weekly Gross / 14 days X 365 days
Example: if your bi-weekly gross is $1,917.81, your Annual Salary = $1,917.81 / 14 days X 365 days = $50,000

Calculating Hourly Rate Using Annual Salary

Regular Hours per Year = Regular Hours per Day X 261 Work Days per Year:

Hours/Week	Hours/Day	Work Days/Year	Hours/Year
35	7	261	1,827
37.5	7.5	261	1,957
40	8	261	2,088

Calculating Premium Rates

For premium rate Time and One-Half, multiply your hourly rate by 1.5. For instance, for Hourly Rate $26.00, the Premium Rate at Time and One-Half = $26.00 X 1.5 = $39.00

For premium rate Double Time, multiply your hourly rate by 2. For instance, for Hourly Rate $26.00, the Premium Rate at Double Time = $26.00 X 2 = $52.00

Please note: The Pay Rate Calculator is not a substitute for pay calculations in the Payroll Management System. In the event of a conflict between the information from the Pay Rate Calculator and the Payroll Management System, calculations from the Payroll Management System prevail.

Pay Rate Calculator - OPA (2024)

How Leap Year Changes your Bi-Weekly Gross

Calculating Bi-Weekly Gross Using Annual Salary

Calculating Annual Salary Using Bi-Weekly Gross

Calculating Hourly Rate Using Annual Salary

Calculating Premium Rates

FAQs

How do I calculate pay rate? ›

How much a year is 12.50 an hour? ›